8. If tea and coffee are substitutes, a reduction in the price of coffee will—(A) Increase the sale of tea(B) Decrease the sale of coffee(C) Increase the sale of coffee(D) Decrease the price of teaAns: (C)

10. Which of the following is the indirect tax?(A) Wealth Tax(B) Capital gains Tax(C) Excise duty(D) Corporation TaxAns: (C)

11. If. the price of Pepsi decreases relative to the price of coke and 7-up, the demand for—(A) Coke will decrease(B) 7-up will decrease(C) Coke and 7-up will increase(D) Coke and 7-up will decreaseAns. (D)